Bezos unveiled a new feature known as Firefly, which can recognize over 100 million items, such as a CD, song, book, game, food or other item. For a instance, if a user sees a CD, a song from it can be played on Amazon on another music app such as Pandora or iHeartRadio. Users can scan a book using Firefly, and then purchase it.

While there's no question Firefly looks really cool, as far as I know Bezos neglected to mention that one of its niftiest features is hardly new at all. In fact, if you own an iPhone from Apple (AAPL - Get Report) with recent iOS software and the Amazon shopping app installed, you can already scan an item -- bar code or the actual item itself -- and proceed to purchase it from Amazon. All you have to do is use the "Flow" feature.

So, if you follow me, Amazon built a feature into its, by the looks of it, excellent all-purpose, though shopping-centric Firefly app that's been available on Apple's iPhone only to tout that feature as a cornerstone of its "new" Firefly app set to debut on Fire phone. It makes me wonder if the Bezos strategy of knocking off hardware isn't getting just a bit old. You can read my rationale around that point in Apple Executing a More Powerful Strategy Than Amazon.

Palo Alto Networks' crucial earnings day events on Wednesday could determine share price direction in the immediate term. Ahead of the print, the stock still looks like a solid GARP play to be held over longer periods of time.